OCC Announces New Credit and Market Risk Unit

WASHINGTON – The Office of the Comptroller of the Currency announced today that two groups – Credit Risk and Risk Evaluation – are being combined in a new Credit and Market Risk unit that will be headed by Deputy Comptroller Kathy Dick.

Ms. Dick will continue to report to Chief National Bank Examiner Wayne Rushton.

"The OCC continually evolves to reflect new realities and changing conditions in the banking industry," said Comptroller of the Currency John C. Dugan. "This action will bring closer together, under a single Deputy Comptroller, two groups whose work is increasingly similar and intertwined and whose staffs share many of the same skills, training, and interests."

Mr. Rushton said the new unit will function as the OCC’s focal point for credit and market risk management issues, and will sponsor the work of two key interdepartmental groups – the National Risk Committee and the National Credit Committee.

Ms. Dick currently oversees the OCC’s Risk Evaluation unit. The Credit Risk group is headed by Barbara Grunkemeyer, who is retiring at the end of the month.

Prior to assuming her current position, Ms. Dick served four years as the director of the Treasury and Market Risk Division, where she was responsible for developing bank regulatory and supervisory policies and examiner guidance for trading, interest rate risk, liquidity, securitization, derivatives, and dealer activities. She also served as the agency's primary liaison with its cadre of capital markets examiners.

Ms. Dick spent three years managing the OCC's London office. In her capacity there, Ms. Dick was responsible for supporting the supervision of U.S. national bank branches throughout Europe.